PECULIARITIES OF USING PERSONALIZED MARKETING IN THE CONDITIONS OF DIGITALIZATION

Keywords: digitalization, communications, personalized marketing, target audience, machine learning

Abstract

The article reveals the peculiarities of modern companies development in the conditions of entrepreneurial activity digitalization and transformation by reorientation to the online environment, which allows to increase the level of competitiveness. The growing need of most users to implement individual approaches to product presentation by companies has been proven. Best practices show the success of personalized marketing in the process of increasing consumer loyalty to the brand. The peculiarities of using personalized marketing to increase the level of the target audience loyalty are revealed. The essential role of machine learning methods in the processing of structured and unstructured information obtained through digital channels for the construction of effective models of communications personalization with an individual client. The main formation stages of an effective strategy of personalized marketing are given. Personalization of marketing on the basis of profiling involves operational characterization of an individual visitor according to a system of collected indicators and the implementation of machine learning appropriate model, in most cases modern practices use different neural network architectures, achieving a high level of reliability. Active software development enables companies to apply ready-made solutions to optimize marketing strategy by reorienting to personalized offers to individual customers. Examples of personalization introduction by individual companies in the implementation of appropriate digital marketing tools are presented. Social media is one of the main resources used by the vast majority of the population in the digital environment. Companies actively use social media marketing to communicate with the target audience, providing access to thematic content at regular intervals, which helps stimulate consumer interest in the products of a particular brand. The introduction of innovations encourages companies to constantly adjust the use of digital marketing tools, refocusing on more effective ones in order to strengthen the level of communication with the target audience and increase conversions.

References

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Strycharz J., van Noort G., Helberger N., Smit, E. (2019) Contrasting perspectives – practitioner’s viewpoint on personalised marketing communication. European Journal of Marketing, vol. 53, no. 4, pp. 635–660.

Aguirre E., Roggeveen A.L., Grewal D., Wetzels M. (2016) The Personalization – Privacy Paradox: Implications for New Media. Journal of Consumer Marketing, no. 33(2), pp. 98–110.

Bleier A., Eisenbeiss M. (2015) Personalized Online Advertising Effectiveness: The Interplay of What, When, and Where. Marketing Science, no. 34(5), pp. 669–688.

What is Website Personalization? Available at: https://vwo.com/website-personalization/ (accessed 27 August 2021).

eCommerce Personalization: 2021 Complete Guide. Available at: https://www.bloomreach.com/en/blog/2017/08/ecommerce-personalization.html (accessed 27 August 2021).

Audience Profiling in Practice: Perfecting the Art of Segmentation. Available at: https://blog.gwi.com/marketing/segmentation/ (accessed 27 August 2021).

Very.co.uk Launches Retail ‘First’ – Fully Personalised Homepage. Available at: https://thisisretail.com.au/blog/very-co-uk-launches-retail-first-fully-personalised-homepage/ (accessed 27 August 2021).

Cadbury Launched Two Successful Personalized Video Campaigns: One to Gain Foothold in a New Market, the Other to Introduce a Product Line. Available at: https://blog.idomoo.com/cadbury-launched-two-successful-personalized-video-campaigns/ (accessed 27 August 2021).

IKEA Launches Augmented Reality Application. Available at: https://www.architectmagazine.com/technology/ikea-launches-augmented-reality-application_o (accessed 27 August 2021).

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Published
2021-08-31
How to Cite
Ponomarenko, I., & Siabro, S. (2021). PECULIARITIES OF USING PERSONALIZED MARKETING IN THE CONDITIONS OF DIGITALIZATION. Economic Scope, (172), 52-55. https://doi.org/10.32782/2224-6282/172-9
Section
ECONOMY AND ENTERPRISE MANAGEMENT